I was somewhat shocked yesterday when the re-calc dropped my rep down ~250 or so (on SU)...  OK, fine.  I read the info and started doing my business.  I hit the max cap of 200 yesterday, after the re-calc, and now today I'm back down again...  Not sure what is going on.  I was under the impression the re-calc would happen and then we could all move forward from there.  Is this not the case?  Are there recurring re-calcs?

What's more...  I even got a mortarboard bronze badge...  So that sort of implies that I did hit the cap.  However, when I go to http://superuser.com/reputation it shows that I never hit the cap, and, in fact, yesterday, I only got 60.  Is it possible that the old calcs were used, and then at some point the new calcs were applied?

I know, I know...  Many people will say, "Who cares, it's about helping others and getting your own questions answered."  OK, I get this and I like this.  But it would be nice if I fully knew how it worked.  For a long time, my rep was steady, growing expectantly.  Now, for the last few days, each time I log in it changes +/- 200 points.